Overview
- Bitcoin hovered near $101,000–$103,000 on Sunday as liquidity gauges improved, with the SOFR–EFFR spread dropping to 0.05 and banks’ use of the Fed’s standing repo facility sliding back to zero.
- Flows into U.S. spot bitcoin ETFs remain a swing factor after roughly $2.8 billion of outflows over four weeks, with a $240 million net inflow recorded on Nov. 7 offering a tentative positive signal.
- XRP traded around $2.30 after a monthly decline of roughly 20%–23%, tracking the broader market’s recovery as BTC reclaimed the six‑figure level.
- Technical views on XRP are split, with some analysts warning of a retest near $2.05 while others point to a potential double‑bottom or an Elliott‑wave fifth‑leg setup that would require confirmation above nearby resistance.
- Near‑term catalysts cited include Ripple Prime’s institutional rollout and expected mid‑November spot‑XRP ETF filings from Bitwise and Canary Capital, while on‑chain data show both new wallet growth and recent whale distribution alongside a White House official’s forecast of large future crypto inflows.